June 2018 Austin Luxury Real Estate Price Report

Eleven Oaks Realty is proud to present their June 2018 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The June 2018 Austin Luxury Real Estate Price Report covers the luxury market in the following Austin metro area counties: Travis, Williamson and Hays.

Number of Luxury Homes Listed for Sale Up 1%

In June 2018, there were 177 luxury homes introduced to the market compared to 175 in June 2017, marking a 1% increase in year over year numbers.

Austin Luxury Homes Under Contract Up 19%

In June 2018, 113 luxury homes went pending in the Austin area compared to 95 in June 2017, marking a 19% (18 home) increase in year over year numbers.

6% Decrease in the Number of Luxury Home Sales in Austin

In June 2018, 103 luxury homes sold compared to 110 luxury homes in June 2017, marking a 6% (7 home) decrease in year over year numbers.

Austin Luxury Housing Inventory Down 22%

In June 2018, there was 7.0 months of inventory on the Austin luxury real estate market compared to 8.9 months in June 2017 – a 22% decrease in year over year numbers. This year saw an earlier spring inventory pick up, but doesn’t seem to be continuing this momentum.

Time to Sell Luxury Home in Austin Up 2%

In June 2018, it took 78 days to sell a luxury home in Austin, on average, compared to 77 days in June 2017, marking a 2% increase in year over year numbers.

Austin Median Luxury Home Price Up 4%

This month, the median home sale price of a luxury home in the Austin area was up 4%. The median home price in June 2018, when you consider homes that sold for $1 million or more, was $1,375,000 compared to $1,322,500 in June 2017.

Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.

3% Less Homes on the Luxury Market

In June 2018, there were 967 luxury homes for sale in the Austin area, compared to 998 in June 2017, marking a 3% decrease in year over year numbers.

Number of Luxury Homes Taken Off the Market Up 12%

In June 2018 there were 67 luxury homes taken off the market compared to 60 in June 2017, showing a 12% (7 home) increase in year over year numbers.

Luxury Supply is Down 3% – Luxury Demand Down 6%

This month we saw a 3% decrease in luxury housing supply (number of properties for sale) and a 6% decrease in luxury demand (number of sold properties).

Median for Sale Price Up 2% – Median Sold Price Up 4%

In the Austin area, we saw a 2% increase in median for sale price of a luxury home, while the median sold price of a luxury home was up 4% in year over year numbers. The median for sale price of a luxury home was $1,599,000 in June 2018 compared to $1,566,450 in June 2017 marking a $32,250 increase in year over year numbers. The median sold price of a luxury home was $1,375,000 in June 2018 and $1,322,500 June 2017, showing a $52,500 increase in year over year numbers.

Source: Clarus Market Metrics, ACTRIS Sold Data

June 2018 Austin Luxury Home Sales Map

All of the Austin luxury single family homes that sold in June 2018 were west of 35 (with the exception of 1), south of 183 (with the exception of 2) and north of 290 (with the exception of 2). Here is a map of the 97 Austin luxury homes that sold in June 2018.

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in June 2018

More Data on Austin Luxury Home Sales June 2018

Here is some additional data on the 97 luxury homes that sold in Travis, Williamson and Hays Counties in June 2018. These 97 homes sold for $1 million or more.

0 luxury homes that sold were Foreclosures (Bank Owned)

5 luxury homes were Waterfront

42 luxury homes were in the Austin ISD

1 luxury home was in the Dripping Springs ISD

29 luxury homes were in the Eanes ISD

0 luxury home was in the Hays ISD

16 luxury homes were in the Lake Travis ISD

5 luxury homes were in the Leander ISD

0 luxury homes were in the Round Rock ISD

1 luxury homes were in the Wimberley ISD

24 luxury homes were in Gated Communities

41 luxury homes were in HOA’s

54 luxury homes had Pools

34 luxury homes were on Septic Systems

93 luxury homes that sold were located in Travis County

2 luxury homes that sold were located in Williamson County

2 luxury homes that sold were located in Hays County

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in June 2018

Luxury Homes for Sale Around Austin

Here is a map view of the 638 luxury homes currently for sale in the Austin area as of July 18, 2018. 555 are located in Travis County, 26 are located in Williamson County and 57 are located in Hays County.

June 2018 Luxury Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual numbers, we’ve listed the figures for June 2018 Austin area luxury home sales below. The most expensive luxury home that sold in June 2018 sold for $6,886,250 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 888 sqft – 13,731 sqft with an average size of 4,238 sqft. The average price per square foot for a luxury home that sold in Austin in June 2018 was $436.80 with the lowest being $190.18 /sqft and the highest being $1,998.87/sqft. It took, on average, 74 days to sell a luxury home in Austin and sellers received, on average, 93.49% of their original list prices.

Beds

Baths

SqFt

List Price

LP/SqFt

Sold Price

SP/SqFt

SP/LP

SP/OLP

ADOM

Min

3

1

888

$979,900

$198.89

$1,000,000

$190.18

77.22%

66.98%

0

Max

7

10

13,731

$7,500,000

$2,421.17

$6,886,250

$1,998.87

114.26%

114.26%

421

Avg

4

5

4,238

$1,800,489

$460.29

$1,714,100

$436.80

95.85%

93.49%

74

Median

4

4

4,054

$1,395,000

$410.75

$1,375,000

$391.37

96.67%

94.57%

44

Search Criteria

Status

Sold

Sold Date

Jun-18

Property Type

Single Family Homes $1MM+

Number Sold

97

Source:

ABoR Sales Data

Area

Travis, Hays, Williamson Counties

What is Your Austin Luxury Home Worth?

The Austin Luxury Real Estate Market Report is great for someone who is looking for overall trends in the luxury market. If you’re looking for a better idea of the market in your neighborhood, our Market Snapshot Tool is for you. With just your zip code, we’ll email you a detailed market report for your neighborhood including what homes actually sold for, how long it took for them to find a buyer and trends. Simply put in your zip code and the report will be emailed to you instantly!

Considering Buying or Selling a Luxury Home in Austin?

Our team of Austin luxury real estate market specialists know the market well and can help you get the best deal possible. For more info about our team and how we work, check out our Austin Home Buyers and our Austin Home Sellers sections. Then, call us at (512) 872-8323 or email us at info@11OaksRealty.com to schedule a consultation.

Questions About the Austin Luxury Real Estate Price Report?

Do you have questions about this Austin Luxury Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can.

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About Rebecca Stoklosa

Rebecca has founded her success in real estate on a commitment to personalized service. Clients appreciate her dedication to not only the success of their transaction, but their very peace of mind. She is particularly adept at creating bridges to make home buying and relocation as seamless as possible.

Raymond Stoklosa – Broker/Owner, CRS

Raymond Stoklosa is the Chairman and Managing Broker of Eleven Oaks Realty. Raymond has been a respected authority in residential real estate since 1978. Having sold more than $150 million worth of real estate... Read More…

Rebecca Stoklosa – CRS, ABR, SFR

Rebecca Stoklosa is the Chief Operating Officer of Eleven Oaks Realty. She specializes in relocating buyers and home sales in South & Central Austin. Rebecca brings a passion for customer-service to the leadership team. Read More…

Cassandra Stoklosa – MBA

Cassandra joined Eleven Oaks Realty following a successful career managing digital campaigns at several household brands including Walmart, L’Oreal, and Golfsmith. She has also worked in real estate marketing in three of the hottest markets in the U.S. – New York City, San Francisco and Austin. Read More…